Viking Gold Project
Northern Abitibi Mining Corp. entered into an option agreement to acquire an interest in Altius' Viking gold property in July 2007. Northern Abitibi can earn a majority interest in the Viking project by issuing 1,115,000 shares of Northern Abitibi, and spending $1.2-million on exploration over four years.
The 900 hectare Viking property contains a series of mesothermal-style quartz veins and stockworks hosted in Precambrian intrusive rocks. Mineralization consists of pyrite-chalcopyrite-galena-sphalerite and locally visible gold in northeast-trending silica-carbonate-altered zones.
Two large gold in-soil anomalies have been defined on the property. The western-most anomaly is a 1.5-kilometre-long linear zone trending to the northeast. Twenty-two grab samples taken by Altius within this zone returned gold values ranging from 0.04 to 4.1 grams per tonne Au.
The eastern soil anomaly is approximately one kilometre long by 0.5 kilometre wide and contains soil values up to 2,090 parts per billion gold. Sixteen grab samples taken from outcrop and quartz boulders from this area by Altius returned gold values ranging from trace to 42.8 g/t, averaging eight g/t. This zone has never been trenched or drill tested and remains an excellent target for gold exploration.